multi-company online-banking

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8till8

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Question for anyone who uses online-banking for multi-companies.

I am using BOI for online banking but it has a major flaw. When I make a 3rd party transfer, the originating account name that shows on the receivers statement is the log-in company name, not the name of the originating account.

For example;
I log-in as AB Ltd
I make a transfer from account of PO Ltd to a supplier
The supplier sees the transfer coming from AB Ltd, where it should see it coming from PO Ltd (since thats the originating account)

I've complainted to BOI but they can't seem to help.
Does anyone use this setup with other banks ?
 
I know AIB will allow you to put in your own despription. From memory, if paying an employee you could put in the description of say "salary form ABC Ltd. week 32"

Ulster bank operate the same as BOI.
 
8till8 said:
Question for anyone who uses online-banking for multi-companies.

I am using BOI for online banking but it has a major flaw. When I make a 3rd party transfer, the originating account name that shows on the receivers statement is the log-in company name, not the name of the originating account.

For example;
I log-in as AB Ltd
I make a transfer from account of PO Ltd to a supplier
The supplier sees the transfer coming from AB Ltd, where it should see it coming from PO Ltd (since thats the originating account)

I've complainted to BOI but they can't seem to help.
Does anyone use this setup with other banks ?
Click to expand...

First off while I do use BOI online I don't use it for multi-companies.
My first reaction to your post was that if you log in as AB Ltd then it would not be surprising if AB Ltd came up as the Reference.
Can you not log in as PO Ltd?
Forgetting the Payers Reference part for the moment, how/why are you using AB Ltd accounts to make payments on behalf of PO Ltd?

FIX/WORKAROUND:
When you set up a "Beneficiary" in BOI online the second item for each beneficiary is "Payer's Reference". That is what appears in the "To Details" of each payment you set up for that "Beneficiary. It can be edited at the time of setting up each payment, at least it can for 'Domestic:Third Party Payment' so you should be able to amend AB Ltd to PO Ltd before Authorising / sending a payment.
HTH
 
I moved from Bank of Ireland to AIB because the Bank of Ireland just didn't work. That was probably around 4 years ago, so it might have improved since.
Command said:

I know AIB will allow you to put in your own despription. From memory, if paying an employee you could put in the description of say "salary form ABC Ltd. week 32"
Click to expand...

Yes, but I think it only allows around 8 or 10 characters. So you can generally put in the invoice number you are paying, but not your own name.

brendan
 
Firstly,thanks for your replies, it all helps.

BOI does allow the insertion of a short narrative (payers reference) but they still include the payers details, so the receipient would see something like this;
"AB Ltd -- payment from PO Ltd"
as we all know that would cause certain confusion for the receiptient who would be less than 100% sure who the payment is coming from. This often results in the payment being put to one side for later checking and not credited to our account which then goes on hold.


The reason I use multi-company is that in my situation I have a parent company and 4 subsidaries. I can log-in once and see all accounts in one screen which is very easy to manage. BOI suggested fix is that I setup seperate profiles for each company and log-in separately, that would mean 5 usernames and passwords and it would take ages to perform a simple balance check.
I also think its a 'bit rich' to pass the problem of additional administration and time back to the customer.
 
I would no longer recommend AIB Business Banking. They have upgraded it and it is unusable due to security issues.

Brendan
 
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